Supply Chain Security & Risk Mgmt.
Millennials Want Companies to Adopt New Identity Verification Approaches

When it comes to sharing personal information, millennials are reluctant. There is a gap between millennials wanting to secure access on all connected devices and their willingness to sharing data, according to a study by Lexis Nexis Risk Solutions. This could be a wake-up call for businesses to find solutions that minimize the amount of data they have to collect.

Millennials Want Companies to Adopt New Identity Verification Approaches

Globally, millennials have exhibited similar tendencies in their use of payment methods and digital equipment as well as their attitudes toward information and security measures, research suggests. They seem to have the same basic needs as other demographic segments but are more vocal about what they want and expect.

The Lexis Nexis study found that U.S. millennials not only have and use digital devices often, but use them for a broad variety of purposes. Friction intolerance over the sharing of personal information is another area of commonality across markets, although Malaysian, Mexican and Brazilian millennials are the most sensitive and averse.

Smartphones are almost ubiquitous among millennials, with 97 percent usage across all markets. In the U.S. they use them for mobile banking but not as much for purchases. Two-thirds of U.S. millennials are worried about identity theft and data breaches; their global counterparts are more concerned (75 percent).

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Globally, millennials have exhibited similar tendencies in their use of payment methods and digital equipment as well as their attitudes toward information and security measures, research suggests. They seem to have the same basic needs as other demographic segments but are more vocal about what they want and expect.

The Lexis Nexis study found that U.S. millennials not only have and use digital devices often, but use them for a broad variety of purposes. Friction intolerance over the sharing of personal information is another area of commonality across markets, although Malaysian, Mexican and Brazilian millennials are the most sensitive and averse.

Smartphones are almost ubiquitous among millennials, with 97 percent usage across all markets. In the U.S. they use them for mobile banking but not as much for purchases. Two-thirds of U.S. millennials are worried about identity theft and data breaches; their global counterparts are more concerned (75 percent).

Read Full Article

Millennials Want Companies to Adopt New Identity Verification Approaches